So, are trade shows coming back in 2022, or what?
We’ve been asked that question quite a few times by our clients recently. Unfortunately, the answer is still “maybe.” CES was the tech industry’s first real test and, at 45,000, the number of attendees was fewer than a quarter of the 170,000 that attended in 2020. The show also ended a day earlier due to “safety precautions,” and many of the large companies, including Microsoft, Google, AMD and Intel, canceled or modified their in-person plans.
So, was it a success? Are tradeshows back? That’s up to the exhibitors and attendees to decide.
Live events, of course, have been hit with the perfect trifecta of bad luck:
- The pandemic means people (read: buyers) aren’t making the trek from booth to booth to learn about new products. They’re instead relying on virtual events and scheduling one-on-one appointments via video conferencing. International travel is also still chaotic, so shows like MWC should expect to see significantly diminished in-person audiences.
- The supply chain continues to be in complete disarray, with shortages and delays meaning tech companies are unable to produce the volume they need to keep pace with demand. A recent survey showed that 94% of manufacturers across all industries are experiencing delays in components, resulting in many being forced to source new suppliers and redesign products. In addition, 70% of non-manufacturing companies are experiencing a delay in finished goods due to lack of materials and delays at ports. Without completed products to sell, many are reluctant to make the investment in trade shows.
- The skills shortage is impacting many industries, and the live events industry is no exception, with 69% of companies reporting a lack of workers. This includes on-site roles such as engineers, electricians, technicians, crew and riggers. There is little indication that this picture will improve over the coming months.
Yet, they’re called trade shows for a reason: Before the pandemic hit in 2020, they generated a significant amount of “trade.” So, what can companies in the AI, IoT, mobile, wireless and telecom industries do to replicate the success they achieved through trade shows using other methods?
- If you’re participating in live events with a virtual component, find ways to engage both audiences. Both can end up being stellar customers. Find ways to combine the experience without making either group feel like a second-class citizen. Like with physical events, virtual events are all about presenting “experiences” – there are lots of options for sharing your message, including networking events, conference programs, chat rooms, etc. Attendees are free to roam as they like depending on their objectives. Entice them to roam your way and when they do, be prepared to reward them with engaging content – and yes, maybe even some virtual tchotchkes.
- Don’t always “hold your news” for trade shows. Instead, think strategically about when it makes sense to issue your news. Companies used to prepare their biggest press releases to surround shows like MWC. If shows were as large as their pre-2020 levels, this might be a good strategy, and for the biggest shows this might still work. But there are very few shows that have enough bandwidth to cover all the news, and yours might get lost in the morass. You also might “rush” your news just to make it for the event and miss out on something that might make it really stand out, like a unique feature or a customer story. Instead, pick a time that works best for your company and release your news then. That may or may not mean a smaller show or a vertical event, depending on the nature of your release.
- Invest more in SEO. Make sure your potential buyers are finding your company when they are searching for products and services. SEO is a long-term strategy, not a quick fix, so it should be done in concert with other marketing activities. But once you start, the results are long lasting. Think about ways you can incorporate your top trade shows into your SEO strategy and begin to reap the rewards today and over time.
- Utilize social strategically. There’s nothing stopping you from tagging a trade show in your social posts, even if you do not have “new” news. Utilize a show’s social tags (many have them available months in advance) to promote existing products and services. This shouldn’t be a one-and-done strategy – schedule your posts frequently in the weeks leading up to the show and a few weeks afterwards.
Live events may not return to their pre-pandemic levels for some time. Next up is Mobile World Congress, which still has plans for forge ahead with a hybrid in-person/virtual event in Barcelona on February 29-March 3. Smaller shows such as TechCrunch Early Stage 2022 in April are also taking the full-speed-ahead approach while acknowledging the live portion of the event won’t be exactly like “the Before Times.”
Make sure you understand the challenges they’re facing and take advantage of other opportunities alongside trade show participation to get the best bang for your marketing dollars in 2022 and beyond.